Pahirap naman: Zarate sees inflation rising due to Train
Bayan Muna Rep. Carlos Zarate believes that the Tax Reform Acceleration and Inclusion (Train) Law and its second package will burden the country even more in the coming years.
Citing the rise of prices of goods and services following the passage of Train law, Zarate projected that the inflation rate would continue to soar with the impending passage of Train 2.
“This is truly unfortunate as it is deplorable considering that majority of consumers’ salaries are below minimum wage and the pittance that the Duterte administration gives through subsidy is hardly enough to tie them down, even it reaches them at all,” he said.
The politiko said Train 2 would widen the gap between the poor and the rich.
“This is just the beginning of the harsh effects of Train 1, and, with the coming of Train 2 that will lower the income tax for corporations, the disparity between the rich and the poor would terribly increase. While poor consumers are being pushed down by Train 1, the rich are getting richer by passing on their tax burden. Now with Train 2, this gap would further widen,” he said.
“There is a need to repeal or at the minimum amend the regressive and anti-people provisions of TRAIN 1. Congress should also carefully scrutinize TRAIN 2; it should not be railroaded and should not burden more our already overtaxed consumers,” he added.
The Train Law imposes higher excise taxes on fuel products, cars, tobacco, and sugar-sweetened beverages.
The Train 2 is still pending in Congress.
The country’s inflation rate increased to 4.3 percent in March, according to the Philippine Statistics Authority.